SCHEDULES

SCHEDULE 5 Transfer of functions: consequential amendments

Part I Banking supervision

Chapter III Other Enactments

Building Societies Act 1986 (c. 53)

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1

Section 101 of the Building Societies Act 1986 is amended as follows.

2

In subsection (4), for “Bank”, in both places, there is substituted “ Authority ”.

3

In subsection (6)—

a

for the definition of “the Bank” there is substituted—

  • “the Authority” means the Financial Services Authority

b

in paragraph (c) of the definition of “financial institution”, for “Bank” there is substituted “ Authority ”.